Markham market report · December 2024
Markham housing market: December 2024
Markham housing market in December 2024: $1,185,914 average sale price (down 3.7% year over year), 153 homes sold, 3.0 months of supply — a balanced market. Figures from the Toronto Regional Real Estate Board.
What happened in Markham in December 2024
Markham recorded 153 sales in December 2024, 5.5% more than the same month a year earlier. Sellers brought 197 new listings to market, leaving 586 properties in inventory — 60.1% more than a year ago. At the month's pace of sales that is 3.0 months of supply, which puts Markham in a balanced market. 45% of the month's new listings sold.
The average sale price across all property types was $1,185,914, down 3.7% year over year and down 7.5% on the month. Detached homes averaged $1,592,483 against $691,460 for condo apartments — the gap that decides which side of the $1.5 million insured-financing cap a purchase here falls on.
The two years to December 2024
By property type
| Type | Average sale price | YoY | Sold | New listings | Inventory |
|---|---|---|---|---|---|
| Detached | $1,592,483 | -7.7% | 51 | 72 | 232 |
| Semi-detached | $1,224,727 | +10.6% | 11 | 11 | 22 |
| Row / townhouse | $1,246,962 | +8.8% | 35 | 38 | 84 |
| Apartment | $691,460 | +4.0% | 40 | 57 | 196 |
| All types | $1,185,914 | -3.7% | 153 | 197 | 586 |
Source: the Toronto Regional Real Estate Board, Markham, December 2024.
What this means if you're buying in Markham
Market conditions shape the negotiation; your income, debts and the stress test decide what you can actually borrow. The tech employment base makes stock compensation a recurring feature of applications here, and it is the part lenders are most conservative about — RSUs and options are frequently excluded or heavily discounted, so a household that feels well-paid can qualify for less than expected. Sort out which parts of your compensation are usable before you set a budget. Markham also moves quickly enough that a real pre-approval matters: a short financing condition is only a considered risk if your file is already underwritten.
Read the full Markham area guide, compare it with the wider GTA market, or run your numbers and start an application.
Buying in Markham?
Get a real pre-approval before you shop — it's the difference between a budget and a guess.